Enlink Midstream Llc Stock Price, News & Analysis

EnLink Midstream, LLC announced plans to offer $500 million in senior notes due January 2028, subject to market conditions. These notes will be guaranteed by EnLink Midstream Partners, LP. The proceeds will be utilized to repay part of an $850 million term loan due in December 2021. The offering targets qualified institutional buyers under Rule 144A and Regulation S, with no registration under the Securities Act.

EnLink Midstream announced participation in key investor conferences: the RBC Capital Markets Midstream and Energy Infrastructure Conference on November 18, 2020, and the Wells Fargo Midstream and Utility Symposium on December 8-9, 2020. The company’s third-quarter 2020 presentation is available for download on www.EnLink.com. EnLink operates a robust midstream platform focused on natural gas, crude oil, and NGL capabilities across premier production basins, ensuring long-term value creation for stakeholders.

EnLink Midstream reported a strong Q3 2020 with a net income of $39.2 million and net cash from operating activities of $244.2 million. The company achieved adjusted EBITDA of $261.6 million, unchanged year-over-year, and expects to exceed its full-year adjusted EBITDA guidance. Notably, EnLink announced a $100 million common unit repurchase program to enhance shareholder value. With strong performance across segments, particularly in Permian and Oklahoma, EnLink continues to demonstrate resilience amid market volatility.

EnLink Midstream, LLC (NYSE: ENLC) announced a $250 million accounts receivable financing facility with PNC Bank. This facility will enhance financial flexibility by repaying outstanding borrowings on the company's revolving credit facility. EnLink aims to utilize this financing to support its capital structure and de-lever its balance sheet, aiming to repay a $850 million term loan by the end of 2021. Current net debt has decreased by about $145 million, and borrowings under EnLink's revolving credit facility are approximately $75 million.

EnLink Midstream announced a third-quarter 2020 cash distribution of $0.09375 per common unit, consistent with the previous quarter. This distribution will be paid on November 13, 2020 to unitholders recorded by October 30, 2020. EnLink emphasizes its focus on long-term, sustainable value creation through its midstream platform, providing essential services across premier production areas. This announcement reflects the company's commitment to maintaining consistent returns for its investors amid market fluctuations.

EnLink Midstream will host a webcast and conference call on November 5 at 8 a.m. CT to discuss its third quarter 2020 financial and operational results. The earnings call can be accessed by dialing 1-855-656-0924 in the U.S. or 1-412-542-4172 for international participants. An archived replay will be available on EnLink's Investors page post-event. The third quarter report and press release will be released after market close on November 4. Further details will be communicated prior to the event.

EnLink Midstream (NYSE: ENLC) announced participation in the Barclays 2020 CEO Energy-Power Conference on September 8-9, 2020. CEO Barry Davis and CFO Pablo Mercado will engage with investors, with Davis scheduled for a Q&A session. This event emphasizes the company's commitment to investor engagement and communication. The latest quarterly report for Q2 2020 is available for download on their website. EnLink operates an integrated midstream platform within prime production basins, focusing on natural gas and crude oil services.

On August 28, 2020, EnLink Midstream (NYSE: ENLC) announced that the impacts of Hurricane Laura on its assets, finances, and operations are minimal. Notably, all employees are safe and accounted for. The company praised its team's rapid response to the storm, ensuring continuity in providing energy infrastructure services. EnLink operates extensive assets in Louisiana and along the Gulf Coast, including a major gas transmission pipeline system. The company remains committed to long-term value creation through its integrated asset platforms.

EnLink Midstream reported a net income of $29.8 million and adjusted EBITDA of $255.1 million for Q2 2020. The company is on track to meet its $950 million to $1.025 billion full-year guidance. A significant achievement includes a 35% profit increase in the Permian segment, attributed to cost reductions and volume growth. EnLink also reduced operating costs by $120 million compared to 2019 and generated $72 million in excess free cash flow. The company plans to continue its disciplined investment approach amid market uncertainties.